IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE PROFITABILITY AND PERFORMANCE OF THE NIGERIAN BANKING SECTOR.

This study examined the impact of corporate social responsibility on the profitability and performance of the Nigerian banking sector. The objectives were to determine the impact of corporate social responsibility proxies which include project execution for host communities, sponsorship of indigenes, provision of job opportunities and investment in education impacts on returns on assets of First Bank of Nigeria. Expost facto design was adopted. Data were collected from First Bank of Nigeria financial summary from 2010-2021. Analysis was carried using multiple regression method of analysis. Findings are summarized as follows there is positive but insignificant relationship between project execution for host communities and returns on assets of deposit money banks; there is positive and significant relationship between sponsorship of indigenes and returns on assets of deposit money banks; there is negative and insignificant relationship between provision of job opportunities and returns on assets of deposit money banks and; there is negative and insignificant relationship between investment in education and returns on assets of deposit money banks. The study concludes that investments on social responsibility services have impacted on financial performance of First Bank of Nigeria. The study recommended that management of deposit money banks in Nigeria especially First Bank of Nigeria should continue with its practices of investing in indigenous sponsorship, project execution for host communities, education scholarship in their host communities.